Cronos Group (CRON) closed at $7.85 in the latest trading session, marking a -1.32% move from the prior day. This change lagged the S&P 500's 1.09% gain on the day. Meanwhile, the Dow gained 1.21%, and the Nasdaq, a tech-heavy index, added 1.34%.
Prior to today's trading, shares of the cannabis company had lost 30.14% over the past month. This has lagged the Finance sector's loss of 1.13% and the S&P 500's loss of 1.17% in that time.
Wall Street will be looking for positivity from CRON as it approaches its next earnings report date. In that report, analysts expect CRON to post earnings of -$0.03 per share. This would mark no growth from the year-ago period. Meanwhile, our latest consensus estimate is calling for revenue of $10.44 million, up 262.57% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.07 per share and revenue of $41.44 million. These totals would mark changes of +12.5% and +243.07%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for CRON. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. CRON currently has a Zacks Rank of #1 (Strong Buy).
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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